Charting the course

Why procurement must transform by 2020

Procurement in 2020 will look very different than it does today. This future world will alter existing assumptions and introduce emerging hazards. It will require additional skills, knowledge, and tools to address entirely new challenges while solving current ones more creatively. And it will likely change the very core of how companies look at procurement as an organizational function and an overall company competence.

Dramatic shift

Procurement organizations experienced the first steps on this journey in recent years, but in the decade ahead there will likely be a dramatic shift that will be eye-opening by comparison. In 2020, new capabilities and competencies will likely be mandatory. Organizations that fail to embrace new procurement models may fall further and further behind the competition, jeopardizing overall competitiveness and viability.

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